Warm Springs Advisors Inc. Acquires New Holdings in Broadcom Inc. (NASDAQ:AVGO)

Warm Springs Advisors Inc. acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 22,673 shares of the semiconductor manufacturer’s stock, valued at approximately $5,257,000. Broadcom makes up about 4.9% of Warm Springs Advisors Inc.’s portfolio, making the stock its 6th biggest position.

Other institutional investors also recently modified their holdings of the company. Canton Hathaway LLC acquired a new stake in Broadcom during the fourth quarter worth $26,000. Rialto Wealth Management LLC acquired a new stake in Broadcom during the fourth quarter worth $26,000. Sellwood Investment Partners LLC acquired a new stake in Broadcom during the fourth quarter worth $32,000. Bellevue Asset Management LLC acquired a new stake in Broadcom during the fourth quarter worth $33,000. Finally, Synergy Investment Management LLC acquired a new stake in Broadcom during the fourth quarter worth $35,000. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In related news, Director Justine Page sold 800 shares of Broadcom stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total value of $184,152.00. Following the completion of the sale, the director now owns 26,182 shares of the company’s stock, valued at approximately $6,026,834.58. This trade represents a 2.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the sale, the director now directly owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. This trade represents a 1.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 720,576 shares of company stock worth $131,249,694 in the last quarter. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Down 0.8%

NASDAQ AVGO opened at $228.72 on Friday. The firm has a market capitalization of $1.08 trillion, a P/E ratio of 186.56, a PEG ratio of 2.29 and a beta of 1.04. The business has a fifty day simple moving average of $190.82 and a 200 day simple moving average of $201.27. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom declared that its Board of Directors has approved a stock repurchase program on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were paid a $0.59 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.03%. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AVGO shares. Bank of America decreased their price target on shares of Broadcom from $260.00 to $240.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Morgan Stanley lifted their price target on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Seaport Res Ptn upgraded shares of Broadcom to a “strong-buy” rating in a research note on Wednesday, April 30th. Truist Financial boosted their target price on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Finally, Barclays reduced their target price on shares of Broadcom from $260.00 to $215.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $229.48.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.